Reference no: EM132581034

A credit score is used by credit agencies? (such as mortgage companies and? banks) to assess the creditworthiness of individuals. Values range from 300 to? 850, with a credit score over 700 considered to be a quality credit risk. According to a? survey, the mean credit score is 706.9. A credit analyst wondered whether? high-income individuals? (incomes in excess of? $100,000 per? year) had higher credit scores. He obtained a random sample of 32 ?high-income individuals and found the sample mean credit score to be 721.7 with a standard deviation of 84.9. Conduct the appropriate test to determine if? high-income individuals have higher credit scores at the α = 0.05 level of significance.

State the null and alternative hypotheses.

H0?: μ = 706.9

H1?: μ > 706.9

(Type integers or decimals. Do not? round.)

Identify the? t-statistic.

t0 = 0.99

(Round to two decimal places as? needed.)

Identify the? P-value.

?P-value = _______

?(Round to three decimal places as? needed.)